There are many different things to think about before and after buying a new home. It can be very difficult to keep track of all the minute details, especially during the purchase of your first home. Here are some important things to know and consider before and after you buy your new home.
Before Buying Your First Home
When deciding on a house to purchase, never trust the word of the owner or contractor about any potential issues the home might have. Always have an inspection done by a licensed home inspector of your own choosing. This will help to avoid any lies or misinformation to cover up a major problem. These inspectors can usually assess every aspect of the home, from plumbing to electrical or structural. A good inspection can save you tens of thousands of dollars by allowing you to walk away from a problem before buying the home.
If you are looking for to see if the purchase price is a good deal or not, visit the county assessor’s office. You can find valuable information about the tax values of the homes in that area. By comparing this information to prior sales in that area, you can understand a reasonable price for the homes in the area. This knowledge is a strong bargaining tool against a seller with an inflated price.
When it comes time to buy the home, remember that fixed rates are best. Adjustable Rate Mortgages (ARM) can seem like a great idea with their initial low rates. However, when those rates rise – and they will rise – you will be stuck with increasing payments. A fixed rate mortgage avoids all the hassles that come with an ARM.
Talk to the neighbors about the home you’re interested in. They might have important information about any major problems with the home. Talking to the neighbors will also help you to get a feel for the neighborhood. You may not find out anything bad about the home, but you might decide that the neighborhood isn’t a good fit for you and your family. You should also check out this fantastic first time buyers guide by Mortgage Reports, to get even more insights on the “before you buy” process in detail.
After Buying Your Home
Once you buy a home, your immediate neighbors can be a great source of help when you need it. People are almost always more likely to help someone they know and like than someone they don’t know very well. Having these positive relationships can help immensely over time.
Once the home is yours, change the locks and code for the garage door. There is no way of knowing who might have a spare key from the previous owners or the realtor. Changing these things can prevent an unwanted stranger from letting themselves into your home.
Learning some basic handy man skills can save you thousands of dollars over time. Learning how to install a new faucet or toilet, patch a hole in drywall, or some basic carpentry means that you saved money by not having to pay someone else to do it. You’ll be surprised by how much you can learn from websites like Youtube and Instructibles.
Basic yard maintenance is important, as well. Simply treating it for weeds and keeping it mowed can help maintain or improve the property values of the homes around you. A better property value helps bring a better price and a faster sale, if you eventually decide to sell. The best part is that your lawn doesn’t have to be immaculate. Simply keeping it looking decent will improve your home’s value.
Now you’re equipped with some wisdom and guidance to help ensure that your home buying experience is a success. These few tips can help ensure that you don’t buy a home you will regret later.